Leading bank in Central and Eastern Europe deploys leading FX Options pricing and risk management system
New York 1 June 2009. – GFI Group (Nasdaq: GFIG) has deployed FENICS® FX a platform for price distribution, STP of transactional workflow and risk management to Raiffeisen Bank Polska SA.
Raiffeisen Bank Polska, a subsidiary of Raiffeisen International, is a leading financial corporation in Central and Eastern Europe. The bank is using FENICS® FX’s STP module for straight-through processing of trade detail, rate and revaluation information between GFI FENICS® FX and other systems for improved operational efficiencies and to streamline workflows.
“GFI FENICS® FX has been integrated with Temenos T24 to ensure our customers receive the most accurate position valuations and remove operational risk from our internal workflow” said Miroslaw Winiarczyk, Head of the Treasury Department at Raiffeisen Bank. “FENICS® “FX’s Structuring Module helps the bank’s sales team to design, price, and distribute sophisticated structures with ease.”
“GFI is delighted to add Raiffeisen Bank Polska SA to the FENICS® client list”, said Richard Brunt, global head of GFI FENICS®. “This is a great example of a bank deploying FENICS regionally, using all aspects of FENICS® FX”. Brunt added “ What makes this deal significant is the level of work undertaken by GFI’s Professional Services Group in conjunction with the Raiffeisen team to customize FENICS® to fully integrate the system into the Raiffeisen workflow on an enterprise level”.
Raiffeisen Bank Polska SA completed extensive testing and regional deployment of FENICS® FX in the first quarter of 2009.
About GFI Group Inc. www.GFIgroup.com
GFI Group Inc. (http://www.GFIgroup.com) is a leading provider of wholesale brokerage, electronic execution and trading support products for global financial markets. GFI Group Inc. provides brokerage services, market data, trading platform and analytics software products to institutional clients in markets for a range of credit, financial, equity and commodity instruments.
Fenics Software Limited is a wholly owned subsidiary of GFI Group Inc.
Headquartered in New York, GFI was founded in 1987 and employs more than 1,700 people with additional offices in London, Paris, Hong Kong, Seoul, Tokyo, Singapore, Sydney, Cape Town, Santiago, Dubai, Tel Aviv, Calgary, Englewood (NJ) and Sugar Land (TX). GFI provides services and products to over 2,100 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFI(TM), GFInet(R), CreditMatch(R), GFI ForexMatch(R), EnergyMatch(R), FENICS(R), Starsupply(R), Amerex(R), and Trayport(R).
Certain matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “might,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: acquisitions by us of businesses or technologies; economic, political and market factors affecting trading volumes, securities prices or demand for the Company’s brokerage services; competition from current and new competitors; the Company’s ability to attract and retain key personnel, including highly-qualified brokerage personnel; the Company’s ability to identify and develop new products and markets; changes in laws and regulations governing the Company’s business and operations or permissible activities; the Company’s ability to manage its international operations; financial difficulties experienced by the Company’s customers or key participants in the markets in which the Company focuses its brokerage services; the Company’s ability to keep up with technological changes; and uncertainties relating to litigation. Further information about factors that could affect the Company’s financial and other results is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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